Real Estate Trends and the Rise of Compact Homes
There’s a new trend emerging in the real estate market which targets younger and smaller families who want their privacy while wishing to purchase a home. In response, unit sizes are shrinking, and more and more studio and 1-bedroom apartments are emerging in Indian metropolitan cities.
The Youth of India and Their Role in Shaping the Real Estate Market
It has been estimated that the median age in India will reach 28 years by the year 2020, making it the youngest country in the world. As a result of this demographic change, a greater portion of the population will be in the economically active age bracket most of whom will live in the cities. As a result of this change, it is anticipated that economic growth will take place, disposable income will increase, and new solutions in the housing industry, including options in the Dream Location within the urban area will be in high demand.
Generation Y: The New Homebuyers In India
As of now in India, home buying ages have plummeted to 25-34 years, down from 40 years a decade ago. The term ‘Generation Y-Know’ applies to these people as they are highly educated and work in good jobs, living in metropolitan cities and expect to earn good amounts and are also seeking for independence. For these people, having their own house is quite an important objective to achieve, as they understand the benefits of owning a home rather than renting.
Compact Homes: The Perfect Option for Generation Y
An encouraging factor for the increased demand for compact homes such as studio and 1BHK units is the ability set up a nest egg whilst also meeting generation Y’s goal of owning. These units not only reduce expenditure on rental but generate reasonable returns on investment too, averaging between 11% and 13.5% annual returns. Furthermore, the resale value of the property provides an excess amount after paying off the principal amount, which can subsequently be used as a deposit for purchasing a bigger family house.
The Profitability of Investing in Compact Homes
Investors could earn an annual rental yield between 3.5% and 5% with the rental properties being compact homes. These types of properties are especially appealing to the increasing migrant population working in technology and IT/ITES sectors in cities like Bengaluru. Some are in Whitefield, Sarjapur Road, North Bengaluru, and Hosur Road which are rapidly developing and growing areas.
Addressable Market Potential for Studio and 1BHK Apartments
The market for studio and 1BHK apartments is still at an infant stage, but it is believed that it could address nearly 25% of the annual addressable market by 2020. The constant changing of these homes coupled with favorable demographics and economic factors are set to create a demand for compact homes in the next 15 to 20 years period.
MODERN APPROACH: – Dream Location Here & Now
A Great Place and Space to Live
Dream Location here and now provides a housing idea that looks equally good, contains two well crafted towers which have studio , 1 bedroom and 2 bedroom apartments Dream Location Here & Now is located opposite Manyata Tech Park, this development is in the growth corridor that is bordered by the outer ring road and the airport. Residents are served with proximity to various day chores, schools, hospitals, and shopping centers.
Features and Attributes as Suited
Every aspect of the Dream Location Here & Now is geared towards use and all the spaces are adequately fenced to ensure that every corner can be utilized. The arrival area on the ground floor is offered with an air high ceiling lobby, encapsulated areas, and a no barrier zone to a club house. Apartments meet the standards of comfort and satisfaction as they are well fitted with vitrified tiles, PVC windows, and international standard doors.
Innovation at Its Best and Cutting Edge
All technologies are normally incorporated into the framework of life in Dream Location Here & Now. The project’s structure provides FTTH (fiber to the home) and Wi-Fi connection ensuring high internet connectivity for the residents of the building.
Activities for a Peace of Mind
More than 15 amenities are available, such as a fully equipped gym, and swimming pool with a deck, a jogging track and an amphitheater where you can do indoor games and quiet reading spaces ensuring that the residents have several options of resting and entertaining themselves.
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